ELSENTI: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ELSENTI
Largest movements
- Tangible fixed assets -€27,197
down €27,197 (-14.0%), from €194,523 to €167,327
of which Land and buildings: -€23,825
- Debts after one year -€34,409
down €34,409 (-23.4%), from €146,921 to €112,512
of which Financial debts: -€39,909
- Current portion of long-term debt -€9,459
down €9,459 (-15.6%), from €60,828 to €51,369
- Tax, wage and social debts +€8,408
up €8,408 (+58.0%), from €14,505 to €22,913
of which Taxes: +€5,216
- Reserves +€8,137
up €8,137 (+11.4%), from €71,102 to €79,239
of which Distributable reserves: +€8,137
- Write-downs +€6,713
up €6,713, from -€5,291 to €1,422
- Staff costs -€3,607
down €3,607 (-12.3%), from €29,218 to €25,611
- Financial charges -€2,836
down €2,836 (-21.8%), from €13,034 to €10,198
- Taxes -€1,732
down €1,732 (-27.9%), from €6,209 to €4,478
- Depreciation +€1,535
up €1,535 (+5.1%), from €30,253 to €31,788
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €393,781 | €368,432 | -€25,350 | -6.4% |
| Fixed assets | 21/28 | €198,818 | €174,497 | -€24,322 | -12.2% |
| Intangible fixed assets | 21 | €4,295 | €7,170 | +€2,875 | +66.9% |
| Tangible fixed assets | 22/27 | €194,523 | €167,327 | -€27,197 | -14.0% |
| Land and buildings | 22 | €170,948 | €147,123 | -€23,825 | -13.9% |
| Plant, machinery and equipment | 23 | €8,211 | €9,055 | +€845 | +10.3% |
| Furniture and vehicles | 24 | €6,365 | €2,149 | -€4,216 | -66.2% |
| Other tangible fixed assets | 26 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €194,963 | €193,935 | -€1,028 | -0.5% |
| Stocks and contracts in progress | 3 | €171,879 | €169,828 | -€2,051 | -1.2% |
| Stocks | 30/36 | €171,879 | €169,828 | -€2,051 | -1.2% |
| Amounts receivable within one year | 40/41 | €9,159 | €11,640 | +€2,481 | +27.1% |
| Trade receivables | 40 | €3,450 | €5,931 | +€2,481 | +71.9% |
| Other amounts receivable | 41 | €5,709 | €5,709 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,143 | €7,208 | +€1,064 | +17.3% |
| Deferred charges and accrued income | 490/1 | €7,782 | €5,259 | -€2,523 | -32.4% |
| Total equity and liabilities | 10/49 | €393,781 | €368,432 | -€25,350 | -6.4% |
| Equity | 10/15 | €133,102 | €141,239 | +€8,137 | +6.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €71,102 | €79,239 | +€8,137 | +11.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €71,102 | €79,239 | +€8,137 | +11.4% |
| Amounts payable | 17/49 | €260,680 | €227,193 | -€33,487 | -12.8% |
| Amounts payable after more than one year | 17 | €146,921 | €112,512 | -€34,409 | -23.4% |
| Financial debts | 170/4 | €97,421 | €57,512 | -€39,909 | -41.0% |
| Other amounts payable | 178/9 | €49,500 | €55,000 | +€5,500 | +11.1% |
| Amounts payable within one year | 42/48 | €107,979 | €105,201 | -€2,778 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €60,828 | €51,369 | -€9,459 | -15.6% |
| Trade debts | 44 | €32,646 | €30,919 | -€1,727 | -5.3% |
| Suppliers | 440/4 | €32,646 | €30,919 | -€1,727 | -5.3% |
| Taxes, remuneration and social security | 45 | €14,505 | €22,913 | +€8,408 | +58.0% |
| Taxes | 450/3 | €7,771 | €12,987 | +€5,216 | +67.1% |
| Remuneration and social security | 454/9 | €6,734 | €9,926 | +€3,192 | +47.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €5,780 | €9,480 | +€3,699 | +64.0% |
| Remuneration, social security and pensions | 62 | €29,218 | €25,611 | -€3,607 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,253 | €31,788 | +€1,535 | +5.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,291 | €1,422 | +€6,713 | |
| Other operating charges | 640/8 | €2,821 | €3,348 | +€527 | +18.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €86,056 | €84,964 | -€1,092 | -1.3% |
| Operating profit (loss) | 9901 | €29,055 | €22,795 | -€6,260 | -21.5% |
| Financial income | 75/76B | €322 | €18 | -€304 | -94.4% |
| Recurring financial income | 75 | €322 | €18 | -€304 | -94.4% |
| Financial charges | 65/66B | €13,034 | €10,198 | -€2,836 | -21.8% |
| Recurring financial charges | 65 | €13,034 | €10,198 | -€2,836 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €16,343 | €12,615 | -€3,728 | -22.8% |
| Income taxes | 67/77 | €6,209 | €4,478 | -€1,732 | -27.9% |
| Profit (loss) for the period | 9904 | €10,133 | €8,137 | -€1,996 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,133 | €8,137 | -€1,996 | -19.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.